Page 12 - Mathematics Literacy Grade 11

Each month the account is increasing by 5%.

Exercise 2

1. Adrian has invested an amount of R10 000, 00 in a fixed deposit account at
an interest rate of 5, 32% per annum.

1.1. How much money will be in the deposit account at the end of the first year?
Show working.

1.2 The formula: current year’s balance = previous year’s balance + 5, 32% x
previous year’s balance. Use this formula to calculate the missing values in
the following table

Years 0 1 2 3 4 5
Account Balance R10000

1.3 Draw a graph to represent the data in question 1.2

11 | P a g e I v y A c a d e m y